The national market of any country is very wide. The producers of goods need not concentrate on a specific group of buyers or a distinct market. This may be termed as mass' marketing. The producers of products must be clear whether they want to make a general purpose product which can be bought by any person in the nation-wide market or distinct kind of product to serve the needs of a particular group of buyers only. In simple terms. market segmentation may be defined as a process of dividing a market into different sub-markets on the basis of some definite criteria. Another definition may be put as follows:Market segmentation is a process of dividing buyers into various groups with a common need or want, into different classes on the basis of region, age, sex, preference, habit, prejudice etc.
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